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Author Question: If a firm is producing where MR> MC (Read 32 times)

mp14

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on: Apr 19, 2019

Question 1

If a profit-maximizing firm is currently producing where 
MR = 
MC, it should


◦ increase output so that marginal revenue is less than marginal cost.
◦ decrease output so that marginal revenue will be greater than marginal cost and the firm's profit will increase.
◦ not change because it is already maximizing profit.
◦ exit the industry.

Question 2

If a firm is producing where 
MR > 
MC


◦ the revenue gained by producing one more unit of output exceeds the cost incurred by doing so.
◦ the revenue gained by producing one more unit of output equals the cost incurred by doing so.
◦ the revenue gained by producing one more unit of output is less than the cost incurred by doing so.
◦ the firm is already maximizing profits because revenue is being increased by more than costs.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by mp14 on Apr 19, 2019

recede

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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mp14

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Reply 2 on: Apr 19, 2019
Thanks for the timely response, appreciate it

Animal_Goddess

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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